QUESTION NO. 1: i. Differential Costs are considered as relevant, where as sunk Cost is considered as irrelevant for decision making purposes. Explain ii. Why opportunity cost is measured and relate with the evaluation of alternative, can it be an opportunity loss? iii. Which one either spoiled goods or defective goods are less economical for the company and why? iv. How you passed the entry of scrape material for: Transfer scrape to inventory ,Sold scrape to inventory market value. v. What is meant by the statement that labor costing is related to motion costing vi. Is motion time table are same for all industry? How time study expert help in finding the motion study. vii. Differentiate between the straight piece rate and piece rate with guaranteed time rates. viii. Briefly discuss the drawbacks of differential piece rate system in labor costing. ix. Inventory costing system differ for different organizations. All organization adopt two basic costing system. Consider two organization one with cement manufacturer while the